None

5 Core Economic 'Facts'

Scores of economic figures go screaming across our screens every day, many of them contradicting yesterday’s figures, and perhaps half of them based upon lies. On top of that, we have dozens of economic theorists arguing back and forth. In the end, it’s all too muddled for most of us to make out. We each have our guesses, but none of them are terribly certain. So, this week we’d like to point out the central economic facts of the moment, five fundamental conditions that we should all be clear on...

Governing The Deplorables

"Brennan is not wrong to criticize the flaws in democracy. Giving people the vote is no guarantee that they will use it wisely. But restricting the vote to the cognitive elite is no solution. I would rather be ruled by the first thousand people through the gates at the Daytona 500 than the people in that room Friday night with Hillary Clinton and Barbra Streisand. Guess who holds more power already in our society? That’s right: the cognitive elite. That’s how it works in a meritocracy."

"You Will Be Poor"

How much of your wealth does the government want? How much do you have?

Syrian Army Claims It Shot Down Israeli Warplane, Drone; Israel Denies

Just hours after the hard-fought Syrian ceasefire deal went into effect after sunset on Monday - a deal which even Washington has expressed uncertainty whether it will hold or not - moments ago the tentative peace may have been broken when a new counterparty emerged, after the Syrian army claimed it had shot down an Israeli warplane and drone flying over its territory, following an Israeli attack on a Syrian army position in southern Syria, state media reported.

Supervisor Of "Massive Fraud" At Wells Fargo Leaves Bank With $125 Million Bonus

Carrie Tolstedt, the Wells Fargo executive who was in charge of the unit where employees engaged in "massive fraud"and opened more than 2 million unauthorized customer accounts, a routine practice that employees internally referred to as “sandbagging”, is leaving the giant bank with an enormous pay day, some $125 million.

Angry Secret Service Denies It "Broke Protocol" With Sloppy Handling Of Hillary's Rushed Exit

While it is unclear right now if Hillary suffers from any other afflictions beside pneumonia, the truth will eventually come out. However, what is obvious is that the Secret Service did not enjoy being called out for being completely unprepared, especially not by a pro-Hillary outlet such as the WaPo. As a result, Secret Service spokeswoman Cathy Milhoan issued the following statement later Sunday: "During the early departure today of one of our protectees, at no time did any Secret Service personnel violate security protocols."

The Signs Of Desperation In A "Twilight Zone Of Ignorance"

Idiocy and mendacity are a bad combo in the affairs of nations, especially in elections. The present case in the USA displays both qualities to near-perfection: on one side, a boorish pseudo-savior in zero command of ideas; on the other side, a wannabe racketeer-in-chief in full command of her instinctive deceit. Trump offers incoherent rhetoric in opposition to the current dismal order of things; Clinton offers empty, pandering rhetoric in defense of that order. Both represent an epic national drive toward political suicide.

Here Is The Catalyst That Could Unleash A "Violent Rally In Risk" Today

After years of seeing the Fed operate within this “reflexivity conundrum. the markets have already spoken (meaning already financially tightened enough) to a point where the Fed ONCE AGAIN has to back away from their “hiking threat.”  Back to “none and done,” which will likely merit a pretty violent rally in risk and reversal in rates."

Time To Get Real, Part 2: "We Need Their Drugs"

On the current path, the world is experiencing the largest artificial asset allocation in modern history, one that is driven by a misguided interest rate regime that has lost its efficacy and is producing more harm than good. Yet the fear of withdrawal pain is keeping central bankers from doing the inevitable: Quit. The response is predictable: "I need the drugs!"